Dahmakan Closes a $18M Series B Funding Round
Kuala Lumpur based food startup company Dahmakan has recently announced the closing of their Series B funding round in which they secured $18 Million from new institutional investors Rakuten Capital, Whitestar Capital, Jafco and Korean Investment Partners. Other investors included Korean food delivery unicorn Woowa Brothers, the former CEO of Nestle Germany and Compass Group Germany, and follow-on by existing investors, Partech Partners and Y Combinator.
With these funds, Dahmakan will continue building their end-to-end operating system which powers the entire value chain from product development to last-mile delivery from a network of 'satellite' distribution kitchens.
To achieve their mission of building a chef-made, food delivery product that supported the selection and price point for the mass market to use everyday, CEO of Dahmakan Jonathon Weins understood that removing high delivery and operating costs, while bringing food closer to the consumer, would be vital.
Dahmakan uses customer feedback, market insights and other data to fuel their product development approach. The company also understands that people eat at different price points during the week, and so their direct-to-consumer approach and hub-and-spoke model allows them to provide the highest value and quality for each price point.
“This unique operating system makes our “satellite” distribution kitchens significantly more profitable and easier to operate than most major QSRs [Quick Service Restaurant] and we’re excited to bring this across the region”says Jonathan Weins, CEO.